Twitter soars 73 percent in stock market debut

So far this year, average one-day pop for US listed technology or Internet IPOs is 35 percent, according to Dealogic

8:12 AM,
Nov. 8, 2013

Specialist Glenn Carell calls out prices on the floor of the New York Stock Exchange before Twitter began trading during its IPO Thursday, Nov. 7, 2013. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price.

Written by

Alistair Barr
USA TODAY

Twitter shares soared Thursday as investors scrambled to get a piece of what they hope will be the next blockbuster social-media company after Facebook.

Twitter and its bankers, led by Goldman Sachs' Anthony Noto, priced its IPO at $26 a share late Wednesday.

The shares opened at $45.10 on the New York Stock Exchange, under ticker TWTR. The stock climbed as high as $50.09 before closing at $44.90, up 73 percent. That values the company at more than $31 billion, which compares with Facebook's market capitalization of $120 billion and LinkedIn's $26 billion. ...